Maputo, February 18, 2025 – Hollard Moçambique, through its two insurance licenses for non-life business, Hollard Seguros and for Life business, Hollard Vida, has delivered strong financial results for the 2024 financial year, reinforcing its robust market position and sustained business expansion despite challenges in the economic environment.
The group reported a total net profit of 337.4 million MZN, with Hollard Seguros contributing 284.7 million MZN and Hollard Vida 52.7 million MZN. This performance was driven by sound management and operational efficiency.
In 2024, macroeconomic constraints impacted investment income due to interest rate reductions and an increase in mandatory reserves by the central bank’s monetary policy committee. This was particularly evident in Hollard Vida, where a reduced lending capacity influenced the performance of bank loan-linked products. Additionally, claims reserves impacted technical results as part of prudent risk management in line with regulatory requirements.
Hollard Seguros achieved Gross Written Premiums of 4.17 billion MZN and Hollard Vida 599.2 million, marking a 17% year-on-year increase on both entities. Similarly, the group demonstrated robust financial health, with Solvency Ratios of 309% for Hollard Seguros and 356% for Hollard Vida, both exceeding regulatory requirements.
The Combined Ratio for both entities stood between 92% and 94%, reflecting strong underwriting discipline and operational efficiency
In terms of Underwriting Results for the period, Hollard Seguros reported 133.7 million MZN and Hollard Vida 21.5 million MZN, totalling 155.2 million. This underscores the group's ability to generate sustainable profitability through sound practices.
“Hollard Moçambique’s strong set of results for 2024 underscore our resilience, operational efficiency, and unwavering commitment to providing quality insurance solutions to our clients in an environment of frequent and severe climatic and socioeconomic events in the ever more complex Mozambican market,” said Henri Mittermayer, CEO of Hollard Moçambique.
Despite lower net profits compared to the previous year, Hollard Vida remains financially robust, as evidenced by its strong solvency ratio and sustained premium growth. The company continues to prioritise operational efficiency and prudent risk management, ensuring long-term sustainability and value creation for stakeholders.
"Our performance underscores our resilience and adaptability in a dynamic market. While investment returns have faced pressure, our strong premium growth and solid solvency position reflect the confidence our customers place in us.
We remain focused on delivering value to our stakeholders while ensuring sustainable growth in the Mozambican insurance market,” Mittermayer added.
The insurer remains dedicated to innovation, customer-focused solutions, and a strong risk management framework, positioning itself as a key player in Mozambique’s evolving insurance industry.
Jéssica Figueiredo – jessicaf@hollard.co.mz